Elon Musk stated that Goldman Sachs’ estimate of a $1.8 trillion global space economy by 2035 is too conservative, arguing that reusable rockets, satellite networks, and orbital computing could create a significantly larger market. The comment followed the release of Goldman’s "Second Space Age" report, which projects the sector as a new pillar of the industrial economy driven by lower launch costs and private capital.

SpaceX Financial Performance

Space Exploration Technologies Corp. (NASDAQ: SPCX) demonstrated strong growth in its first public quarterly report. Second-quarter revenue nearly doubled to $7.8 billion, while the company maintained a substantial order book. Starlink, a key revenue driver, saw its subscriber base double to 12 million, contributing to a 66% rise in segment revenue.

The company’s total backlog stands at $47.5 billion, reflecting sustained demand for its launch and connectivity services. SpaceX has conducted 78 launches year-to-date, supporting operations across 167 countries.

Orbital Infrastructure Ambitions

Musk’s view that the market will exceed Goldman’s benchmark relies heavily on the expansion of orbital infrastructure. SpaceX plans to launch at least 1,000 next-generation Starlink V3 satellites within a year. Additionally, the company has sought approval for up to one million solar-powered data-center satellites to support orbital AI computing, with demonstrations targeted for late 2027.

What the Numbers Show

The divergence between Musk’s qualitative assessment and Goldman’s quantitative forecast highlights differing views on the scalability of reusable launch systems. While Goldman cites launch cost reductions from roughly $55,000 per kilogram during the Space Shuttle era to around $3,000 today, Musk implies that full reusability via Starship could drive costs lower still, unlocking markets such as point-to-point Earth transportation and Mars settlement that are not fully captured in current commercial models.

SpaceX shares were down 0.73% to $142.29 in overnight trading on Tuesday.

Rapper Rick Ross, whose real name is William Leonard Roberts II, has installed Space Exploration Technologies Corp (NASDAQ: SPCX) Starlink satellite internet service on his private jet. In an interview with Complex released late Monday, Roberts revealed he spent $700,000 to upgrade the aircraft with the technology.

Roberts described the connectivity as "unbelievable," stating it mirrors the experience of being at home. "I’m on the phone call before I take off. As we take off, the phone call don’t stop," he said. He noted that the system supports FaceTime calls and live streaming without interruption.

Broader Adoption in Aviation

The installation aligns with a broader trend of airlines prioritizing Starlink connectivity. Investor Jason Calacanis recently stated that Starlink availability is a top priority when booking commercial flights, outweighing factors such as total time, route, or price.

Major carriers are expanding their fleets with the technology:

• United Airlines Holdings Inc (NASDAQ: UAL) offers Starlink on its flights and expects to install the technology on nearly 60 widebody aircraft by the end of the year.
• American Airlines Group Inc (NASDAQ: AAL) plans to equip more than 500 narrow-body aircraft with Starlink, including its Airbus A321neo fleet. SpaceX CEO Elon Musk confirmed in June that the service would arrive on American Airlines flights next year.

Market Performance

According to Benzinga Edge Rankings, SpaceX shares show a favorable price trend in the short, medium, and long term. During overnight trading on Tuesday, SpaceX shares fell 1.59% to $141.06.

What the Numbers Show

The $700,000 installation cost for a single private jet underscores the premium pricing model for high-end aviation connectivity. This contrasts with the mass-market strategy pursued by commercial carriers like United and American Airlines, which are scaling deployment across hundreds of aircraft to drive volume-based adoption.